Tencent acquired a majority stake in Riot Games in 2011.
Riot Games was founded in 2006 by Brandon Beck and Marc Merrill. The company became internationally famous for League of Legends, a multiplayer online battle arena game released in 2009. Its free-to-play model relied on optional digital purchases rather than an upfront purchase price, helping the game reach a large global audience.
Tencent, a major Chinese internet and technology company, first invested in Riot Games before acquiring a majority stake. Tencent later bought the remaining shares and became Riot’s sole owner in 2015. The transaction is sometimes misstated as Tencent buying League of Legends directly; the acquired entity was Riot Games, the developer and publisher.
Riot continued to operate as a distinct studio. It expanded League of Legends into esports, animation, mobile games, and related entertainment, including the animated series Arcane. Tencent’s ownership connected Riot with one of the world’s largest digital entertainment companies.